CMHC Predicts Housing to Bounce Back in 2010

June 1, 2009  
Filed under Housing Market, Purchasing

In a recent article by the financial post, the Canada Mortgage and Housing Corporation (CMHC) said that the Canadian housing market is expected to rebound as of next year.

The Financial Post article is specific to new home construction, so we’re not getting the whole picture however, as more people buy existing homes, more new need to be built, so there is definitely a relationship there.

In Calgary, Alberta, it seems as though the market rebound has already begun. According to the Calgary Metro House Statistics the number of sales this year to date are well ahead of the same period in 2008.

It is likely that if interest rates don’t rise too quickly new home starts will probably be stronger.


One Response to “CMHC Predicts Housing to Bounce Back in 2010”

  1. Calgary Agent on October 22nd, 2009 4:47 pm

    I’ve noticed that since this article was written the calgary resale home market had dropped off and then spiked substantially upward. If you are searching for a home in Calgary then this upward rise in the real estate values coupled with the phenomenal interest rates make this a good time to speak with your mortgage broker.

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